Jul 27, 2024 07:23 PM IST
Dr. Reddy’s Laboratories’ net profit drops, despite growing revenues as the pharma giant incurred an increase of 29.66% in expenses
Dr. Reddy’s Laboratories Ltd has announced its first quarter results for the financial year 2024-25 on Saturday, July 27.
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How much was Dr. Reddy’s Laboratories’ revenue and net profit?
The pharmaceuticals giant’s consolidated revenue grew to ₹7,672.7 crore, which is a rise of 13.86% or ₹934.3 crore, compared to ₹6,738.4 crore in the first quarter of the financial year 2023-24.
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The net profit however, fell to 1,392 crore. This was a drop of 0.74% or ₹10.5 crore, compared to the same quarter of the previous year’s net profit of ₹1,402.5 crore.
Global generic drugs made up for most of the revenue, contributing ₹6,885.8 crore to it. This was an increase of 14.60% or ₹877.5 crore, compared to ₹6,008.3 crore in Q1 2023-24.
Pharmaceutical services and active ingredients contributed ₹1,030.9 crore to the revenue. This was an increase of 11.83% or ₹109.1 crore, compared to ₹921.8 crore in the same quarter of the previous year.
When it comes to net profit, global generics contributed ₹4,451.8 crore. This was an increase of 15.97% or ₹613.1 crore compared to the same quarter of the previous year’s ₹3,838.7 crore.
Pharmaceutical services and active ingredients contributed ₹176.8 crore to the net profit. This was an increase of 75.22% or ₹75.9 crore compared to ₹100.9 crore in the first quarter of the financial year 2023-24.
Global Generics
The profit before tax was ₹1,882.1 crore, an increase of 19.39% or ₹35.8 crore from ₹1,846.3 crore in Q1 2023-24.
How much was Dr. Reddy’s Laboratories’ expenses?
Dr. Reddy’s Laboratories incurred total operating expenses of ₹2,841.9 crore. This was an increase of 29.66% or ₹650.2 crore, compared to ₹2,191.7 crore in the same quarter of the previous year.
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The company incurred research and development (R&D) expenses of ₹619.3 crore in Q1 2024-25. This was an increase of 24.25% or ₹120.9 crore from ₹498.4 crore in the first quarter of the previous year.
Selling, general and administrative expenses added up to ₹2,269.1 crore, an increase of 28.18% or ₹498.9 crore, compared to ₹1,770.2 crore in Q1 2023-24.
How did Dr. Reddy’s Laboratories’ shares perform?
Dr. Reddy’s Laboratories’ shares closed at ₹6,892.15 on the Bombay Stock Exchange after Friday’s trading session, yesterday on July 26. This was an increase of 0.55% or 37.95 points compared to the previous close.
